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Geffen Buys Fifth Avenue Co-op for $14 Million

David Geffen, the Brooklyn-born record and film producer, just bought a 17th-floor apartment with sweeping Central Park views at 785 Fifth Avenue for $14.17 million.

He purchased the approximately 5,000-square-foot co-op from Robert A. Daly, a former chairman of Warner Brothers Entertainment who left the studio in 1999 and is now chairman of Save the Children, the international children’s foundation. No brokers apparently were involved in the sale.

The limestone building, known as the Park Cinq, was built in 1964 and shares the block between 59th and 60th Streets with the Sherry Netherland hotel.

This will not be the first time that Mr. Geffen has lived in a Fifth Avenue co-op. He bought a penthouse apartment at 810 Fifth Avenue for $31.5 million in 2006 and sold it for a nice profit the next year for $37.5 million.

Mr. Geffen has made millions as a co-founder of Dreamworks SKG and the founder of Geffen Records, which he sold to MCA in 1990 for $550 million worth of MCA stock.